Health: pharmaceuticals; reports on certain costs and other information associated with prescription drugs; require manufacturers of prescription drugs to file with the department. Creates new act.

This bill requires prescription drug manufacturers in Michigan to submit detailed reports to the state Department of Insurance and Financial Services before raising drug prices by significant amounts. The reports must include data on research and development costs, government funding received, advertising and lobbying expenditures, and patent information for drugs costing more than $40 per treatment course. Additionally, companies must notify the department within three days of launching new high-cost specialty drugs, providing details on their development status and acquisition costs. The state will compile this information into an annual report for legislative review while keeping specific company data confidential to protect proprietary interests, with fines of up to $100,000 per month for non-compliance.